Citigroup Trims Praxair (NYSE:PX) Target Price to $163.00

Praxair (NYSE:PX) had its price target cut by Citigroup from $188.00 to $163.00 in a research note published on Tuesday, April 10th. They currently have a buy rating on the basic materials company’s stock.

A number of other research firms have also recently issued reports on PX. SunTrust Banks upped their price objective on shares of Praxair to $185.00 and gave the stock a buy rating in a research report on Friday, January 26th. Barclays upped their price objective on shares of Praxair from $160.00 to $170.00 and gave the stock an equal weight rating in a research report on Friday, January 26th. Zacks Investment Research cut shares of Praxair from a buy rating to a hold rating in a research report on Thursday, January 18th. TheStreet cut shares of Praxair from an a- rating to a c+ rating in a research report on Thursday, January 25th. Finally, Seaport Global Securities reaffirmed a hold rating and issued a $165.00 price objective on shares of Praxair in a research note on Wednesday, January 31st. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $165.27.

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NYSE PX opened at $150.68 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.99 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $43,518.42, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08. Praxair has a 12-month low of $119.07 and a 12-month high of $166.95.

Praxair (NYSE:PX) last posted its quarterly earnings data on Thursday, January 25th. The basic materials company reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.04. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.85 billion. Praxair had a net margin of 10.90% and a return on equity of 26.54%. research analysts forecast that Praxair will post 6.64 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of PX. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Praxair by 1.7% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 60,250 shares of the basic materials company’s stock worth $8,419,000 after buying an additional 1,015 shares during the period. Vident Investment Advisory LLC purchased a new position in shares of Praxair in the third quarter worth $480,000. Janus Henderson Group PLC increased its stake in shares of Praxair by 12.4% in the third quarter. Janus Henderson Group PLC now owns 137,453 shares of the basic materials company’s stock worth $19,207,000 after buying an additional 15,135 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Praxair by 44.2% in the third quarter. Point72 Asset Management L.P. now owns 258,700 shares of the basic materials company’s stock worth $36,151,000 after buying an additional 79,292 shares during the period. Finally, Valeo Financial Advisors LLC purchased a new position in shares of Praxair in the third quarter worth $169,000. 86.28% of the stock is currently owned by hedge funds and other institutional investors.

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Praxair Company Profile

Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.

Analyst Recommendations for Praxair (NYSE:PX)

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